Whole Foods Market, Inc. (WFM) Upgraded by Pivotal Research to “Hold”

Pivotal Research upgraded shares of Whole Foods Market, Inc. (NASDAQ:WFM) from a sell rating to a hold rating in a research note issued to investors on Monday morning, MarketBeat.com reports. Pivotal Research currently has $42.00 price objective on the stock, up from their previous price objective of $27.00.

A number of other analysts have also weighed in on WFM. Wells Fargo & Co restated a hold rating on shares of Whole Foods Market in a research note on Monday, April 10th. Credit Suisse Group restated a buy rating and set a $36.00 target price on shares of Whole Foods Market in a research note on Wednesday, April 5th. Deutsche Bank AG restated a hold rating and set a $38.00 target price (up from $28.00) on shares of Whole Foods Market in a research note on Thursday, May 11th. Barclays PLC upgraded shares of Whole Foods Market from an equal weight rating to an overweight rating and upped their target price for the stock from $38.00 to $48.00 in a research note on Friday. Finally, Vetr lowered shares of Whole Foods Market from a buy rating to a hold rating and set a $35.59 target price on the stock. in a research note on Monday, April 17th. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the stock. Whole Foods Market currently has an average rating of Hold and an average price target of $36.63.

Whole Foods Market (NASDAQ:WFM) traded down 0.51% on Monday, reaching $43.00. 1,966,809 shares of the company’s stock were exchanged. The stock has a market cap of $13.74 billion, a price-to-earnings ratio of 34.24 and a beta of 0.88. Whole Foods Market has a one year low of $27.67 and a one year high of $43.64. The firm has a 50 day moving average of $36.15 and a 200-day moving average of $32.41.

Whole Foods Market (NASDAQ:WFM) last issued its quarterly earnings results on Wednesday, May 10th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.37. The company had revenue of $3.74 million for the quarter, compared to analyst estimates of $3.73 billion. Whole Foods Market had a net margin of 2.54% and a return on equity of 13.72%. The business’s revenue for the quarter was down 99.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 earnings per share. Equities research analysts forecast that Whole Foods Market will post $1.31 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 11th. Investors of record on Friday, June 30th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This is an increase from Whole Foods Market’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a dividend yield of 1.67%. Whole Foods Market’s dividend payout ratio (DPR) is currently 44.44%.

In related news, insider Laura A. Derba sold 2,200 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $36.48, for a total transaction of $80,256.00. Following the completion of the sale, the insider now directly owns 3,418 shares of the company’s stock, valued at $124,688.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Angela Lorenzen sold 1,431 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $36.34, for a total value of $52,002.54. Following the sale, the insider now directly owns 1,131 shares of the company’s stock, valued at $41,100.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,466 shares of company stock valued at $543,688. Corporate insiders own 1.30% of the company’s stock.

Large investors have recently modified their holdings of the company. Cleararc Capital Inc. increased its stake in Whole Foods Market by 0.5% in the first quarter. Cleararc Capital Inc. now owns 7,792 shares of the company’s stock worth $232,000 after buying an additional 35 shares during the period. CAPROCK Group Inc. increased its stake in Whole Foods Market by 1.7% in the first quarter. CAPROCK Group Inc. now owns 8,300 shares of the company’s stock worth $247,000 after buying an additional 136 shares during the period. Sheets Smith Wealth Management increased its stake in Whole Foods Market by 2.3% in the first quarter. Sheets Smith Wealth Management now owns 7,578 shares of the company’s stock worth $225,000 after buying an additional 172 shares during the period. Advantus Capital Management Inc increased its stake in Whole Foods Market by 0.6% in the first quarter. Advantus Capital Management Inc now owns 31,917 shares of the company’s stock worth $949,000 after buying an additional 196 shares during the period. Finally, Addison Capital Co increased its stake in Whole Foods Market by 0.4% in the first quarter. Addison Capital Co now owns 57,072 shares of the company’s stock worth $1,696,000 after buying an additional 200 shares during the period. 91.41% of the stock is owned by hedge funds and other institutional investors.

Whole Foods Market Company Profile

Whole Foods Market, Inc is engaged in the business of natural and organic foods supermarket. The Company operates approximately 456 stores in the United States, Canada and the United Kingdom. Its stores have an average size of approximately 39,000 square feet, and are supported by its distribution centers, bake house facilities, commissary kitchens, seafood-processing facilities, a produce procurement center, and a specialty coffee and tea procurement and roasting operation, among others.

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